Business

Japanese businesses heavily invest in Da Nang

Named as one of the top five foreign investors in the central city of Da Nang, Japan now has more than 90 businesses and representative offices operating in the city with investment exceeding 370 million USD, equivalent to 30 percent of the locality’s total inflow of foreign investment.

Named as one of the top fiveforeign investors in the central city of Da Nang, Japan now has morethan 90 businesses and representative offices operating in the city withinvestment exceeding 370 million USD, equivalent to 30 percent of thelocality’s total inflow of foreign investment.

In the firstnine months of this year, the city gave permission for five Japaneseinvestment projects worth a total of 31.4 million USD.

Generating jobs for around 30,000 labourers, Japanese firms in the cityare on the whole operating effectively and contribute greatly to thelocal budget and the city’s annual average growth rate of 11 percent.

Now, the Japanese enterprises, specialising in the fields ofpaper, seafood and agricultural product processing, the restaurantbusiness, electronic components and software outsourcing, are movingtheir investments towards high technology and quality services.

Besides investing on their own, the foreign firms have encouraged others to enter the city.

Specifically, in addition to its 40 million USD investment in the DaNang High-Tech Park, the Tokyo Keiki Incorporation urged NiwachuzoCompany to pour 22 million USD into the park.

The aforesaidventures signal the beginning of a strong wave of investment fromJapanese firms in the city, which also helps the locality attractinvestment from other foreign enterprises.

To accelerateforeign investment, the city now has four Japanese training centres andhundreds of university undergraduates studying the Japanese language,along with nine restaurants serving Japanese dishes.

In fact,Japanese investment is concretised by the efforts and commitments ofJapanese representative agencies and firms in Vietnam.

Japanesecorporations and businesses always choose Da Nang as a crucialinvestment partner as it meets the firms’ requirements for a favourableinvestment climate, socio-economic conditions and facilities, saidformer Japanese Ambassador to Vietnam Yasuaki Tanizaki during his DaNang visit in August.

In further improving its investmentenvironment, the city has held several conferences in the Japanesecities of Tokyo and Osaka, aiming to attract more investment from thecountry’s companies in its high-tech zone in the time to come.

Japanese firms seeking investment opportunities in Da Nang are able toinvest in the electricity industry, electronics, optical andcommunication technologies, manufacturing machinery, nanotechnology andmedical equipment.-VNA

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